Portland Homes Take Longer to Sell but with Fewer New Listings. Are Values Holding?

Portland Homes Take Longer to Sell but with Fewer New Listings.  Are Values Holding?

  • We saw the expected rebound in Buyer Demand after last week's low activity (the low activity - largely due to school starting back up).  The number of purchase agreements that buyers and sellers agreed to was Up 20%. However, the number of lockbox opens (indicating the volume of home tours by buyers and their agents) was flat vs the previous week.  
  • The Average Sale Price was Down a slight 1% vs the previous week.  Compared to Last Year, this week's average sale price was higher by 0.9%.  Values still seem to be treading water compared to last year.  
  • The number of days a home spent on the active market before the seller received an acceptable offer continued to increase.  The average was 39 days (30, last year) and the median was 16 days (the same as last year).  On average sellers had to discount about 3% off of their original asking price in order to secure a sale.

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